The edible oils market size is anticipated to grow from USD 212.6 billion in 2022 to USD 268.9 billion by 2027, reflecting a CAGR of 4.8% during this period. Edible oils are a key source of unsaturated fats and vitamin E in human diets, widely used in both industrial food production and home cooking globally. With cardiovascular disease being one of the leading causes of death worldwide, research indicates that certain edible oils can positively affect heart health. For instance, olive oil and sunflower seed oil are known for their cholesterol-lowering properties, while recent studies suggest that red palm oil may aid in heart recovery after ischaemia-reperfusion injury. Consequently, integrating edible oils into daily diets can significantly reduce the risk of mortality from heart disease, leading consumers, food service providers, and industries to increasingly favor edible oils over animal-derived fats for cooking.
Here are some key trends in the edible oils market:
Health-Conscious Choices: Consumers are increasingly seeking healthier oil options, leading to a rise in demand for oils high in omega-3 fatty acids, monounsaturated fats, and antioxidants. Oils like olive, avocado, and coconut are gaining popularity.
Sustainability and Organic Products: There’s a growing preference for sustainably sourced and organic edible oils. Consumers are more aware of the environmental impact of their food choices, prompting brands to offer eco-friendly and certified organic options.
Plant-Based and Alternative Oils: The shift toward plant-based diets is influencing the edible oils market. Oils derived from nuts, seeds, and legumes are becoming more mainstream, with innovations in oil extraction and processing techniques enhancing their appeal.
Functional Oils: The demand for functional oils, which provide health benefits beyond basic nutrition, is on the rise. Oils fortified with vitamins, minerals, and probiotics are gaining traction among health-conscious consumers.
Premium and Specialty Oils: There is an increasing demand for premium and specialty oils, such as cold-pressed or gourmet oils. These products are often perceived as higher quality and offer unique flavors, driving interest among culinary enthusiasts.
Technological Advancements: Innovations in oil extraction, refining, and processing techniques are improving the efficiency and quality of edible oils, making them more accessible and appealing to consumers.
Edible Oils Market Opportunities:
The edible oils market presents a wealth of opportunities driven by various factors, including changing consumer preferences, health awareness, and innovation in oil extraction and processing technologies. With a growing inclination towards healthier lifestyles, consumers are increasingly seeking oils that are rich in unsaturated fats, omega-3 fatty acids, and natural antioxidants. This trend has led to a rising demand for oils such as olive, avocado, and flaxseed oils. Additionally, the expansion of the food service industry and the increasing popularity of plant-based diets are further boosting the consumption of edible oils. Innovations in packaging and distribution, such as eco-friendly packaging and online sales channels, are also enhancing market accessibility and consumer engagement. Furthermore, the growing awareness of sustainability and organic products is encouraging producers to invest in sustainable sourcing practices, creating a niche market for organic and non-GMO edible oils. Overall, the edible oils market is poised for significant growth, with numerous opportunities for businesses that adapt to evolving consumer needs and trends.
Soybean Oils: The Fastest-Growing Segment in the Global Edible Oils Market During the Forecast Period.
The global soybean oil market is anticipated to experience the fastest growth between 2022 and 2027 with a CAGR of 5.4%. In a time of growing food costs and concerns regarding the impact of climate change on the world’s food supply, soy products could prove to be a bright light. Soybean oil has a neutral flavor and is a popular cooking oil with a variety of uses in the kitchen. It is a multifunctional component that enables home chefs and food service professionals to reduce their food expenses by maximizing its use in different recipes. In addition to being used for frying, sautéing, and baking, soybean oil can also be used as an ingredient in sauces, dressings, and soups. As consumers become more aware of the health benefits of soy, demand for soybean oil is expected to grow. The United States is the second-largest exporter of soybeans in the world and one of the top producers of the crop. Despite shifting consumer priorities, U.S. Soy is still significant. Foods made from soy, which are already common in Asian cuisines, are currently experiencing increased popularity due to the growing demand for plant-based meals.
North America is poised for significant growth in the edible oils market, projected to achieve a CAGR of 3.27% from 2022 to 2027.
North America presents a significant opportunity for the edible oils market, driven by the increasing demand for processed food products resulting from busy lifestyles and evolving eating habits. The number of food processing companies in the region is growing rapidly, with modern consumers showing a strong preference for fast foods that contain high levels of fats and oils. In the United States, the demand for soybean oil is particularly strong, as it is widely used in savory snacks, convenience foods, and indulgent bakery and confectionery items. The U.S. leads in soybean production and export, with soybeans making up over 90% of the country’s oilseed output. Major players in the U.S. edible oils market, such as Cargill, Incorporated and Bunge Ltd, have captured significant market shares through strategies like acquisitions, expansions, mergers, and enhancing production capacity and efficiency. The future growth of the edible oils sector in the U.S. will depend on global companies’ ability to innovate by developing healthy, versatile, and appealing novel edible oils.
The key players in edible oils market include Cargill, Incorporated (US), Archer Daniels Midland Company (ADM), Bunge Limited (US), Louis Dreyfus Company (Netherlands), Wilmar International Limited (Singapore), and Adani Wilmar Limited (AWL) (India), Associated British Foods PLC (ABF) (UK), Sime Darby Plantation Berhad (Malaysia), and Borges International Group, S.L.U. (Spain).
Cargill Incorporated is a US-based leading player in the edible oils market, offering a comprehensive range of edible oils which spans from basic monoseed oils like refined sunflower oil to olive oil of various origins for customers in retail, catering and food service through its food and beverage segment. Cargill caters to the specific needs of customers residing in North America as well as in Europe, the Middle East and Africa by offering separate edible oils solutions, customized according to regional demands.
Louis Dreyfus Company (LDC) is a leading market player in grains and oilseeds, with a strong international presence in the world’s major producing and consuming regions, since 1851. The company is engaged in originating, transforming, and merchandizing an extensive range of grains and oilseeds products, involved in approximately 11% of global oilseeds flow.
Key Questions Addressed by the Edible Oils Market Report:
What are edible oils?
What factors are driving the growth of the edible oils market?
How big is the edible oils market?
What are the key challenges facing the edible oils market?
What are the major applications of edible oils?
How is the edible oils market segmented?
What are the latest trends in the edible oils market?
Which region is projected to account for the largest share in the edible oils market?
What is the estimated growth rate of edible oils market?
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